The great Sin: Day trading and can it be profitable?

Oh you could and you would :smiling_face_with_sunglasses:

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What really matters is not what you say to yourself, but what you do if your daytrading portfolio goes either up or to 0.

(Just like with passive investing actually.)

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earning 30% more (more like 20-25% after taxes) for 30-40% more work hours + thinking about work in my spare time (as my boss does)? Not really.

I actually thought about what I’d need to really want to work a stressful job - where I can’t just generously round my time sheet or where people actually care what I do to a point that they annoy me. I think I came to the conclusion that 250-300K would be close but not enough - I’d potentially sacrifice a lot of quality of life for faster wealth accumulation…

In fact in my personal ROI calculation (mental load to compensation) I think I’m vastly overpaid. If there is a 300K job, where I need to actually do work for 20h or less a week, feel free to tell me. As of rn, I really enjoy my 4-5d a week home office chill job very much, despite not earning top dollar (or Frank).

I have been very cautious to not make the mistake of chasing responsibility or mental load increases while still having a reasonably high salary. Sure earning more is always earning more, but for me, this works quite well. I imagine in 5y I’ll need even less mental effort (giving me time to think about day trading even more!!! :sweat_smile:)

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Because based on the description it is! Guy wants to gamble some, power to them.

Roulette or blackjack, with free sandwiches and soft drinks (in the UK at least) and an abundance of ladies of loose morals would be my poison, not a computer screen. @akia take a friend, put aside 500CHF in cash, no cards, no withdrawing once you blow the 500, do that once per 2-3 weeks, will last you a decent amount of time. That’s what I and a friend used to do in London anyway, £25 each (hey, we were poor students on stipends!), roulette or blackjack, leave once the money ended. Usually lost it, one night made it to £300 or £350, went to some Brazilian meat restaurant in Bayswater or Marylebone (it’s >20 years ago, can’t recall), then to Stringfellows, blew whatever was left on…dances. A night to remember, and still remembered very fondly!

P.S. Great use of UK taxpayer money, too!

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How much time was it again that you wanted to invest in “learning” about daytrading with an uncertain outcome?

Unless of course you count it as a hobby I guess…

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Won’t daytrading require mental load to have a chance at being successful?

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So my idea would be to learn this stuff, which I guess I can do for 2h or so a day if I am serious (that’s what I did with the language I was learning) and I would not trade with real money unless I am consistently profitable over maybe 6-12 months (more precise criteria to be defined)

I think they count it as fun… Like writing in this thread is for all of us :laughing:

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Absolutely - but as others have said, I think part of the learning etc. is fun and can be counted as a hobby.

Losing money clearly isn’t fun but also very characteristic of a hobby :sweat_smile:

I knew what I was doing by posting about this here… didn’t get disappointed :sweat_smile:

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2 hours a day = a full working day a week

I do wonder if, when you (and I mean this in general, not you specifically) mentally frame daytrading as a ‘hobby’, it essentially already implies defeat (for a lack of a better word).

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You’re welcome :zany_face::smiling_face_with_sunglasses:. So. Which language did you learn? Very relevant to the thread.

How do you mean?

As in if you frame a sports as a hobby, you’re not going to become world class in it?

I think it’s more rationalising, but you might be right…

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Don’t take it too seriously, it’s really just… a hobby :slight_smile:

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I can imagine pointing to it as a hobby means worrying less about the stakes and with that reduced sharpness there being less of an edge needed to actually win at it.

Kind of like what happens when you give a sales person a 100% fixed salary rather than variable part with major upside.

Or, if you wish, in a breakfast of bacon and eggs, the chicken is involved, but the pig is committed…

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To be fair: some people spend 2h/day on this forum

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Fair point. I’ve gotten great ROI here I have to admit with things like investing, pensions, tax optimization. I’ve also recommended the forum to others. So much better (especially the debates / different perspectives) than googling and hoping you find something useful.

I should try to find a similar forum focused on gardening - an area where help is needed in my case!

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sign me up too! maybe a thread here about DYI gardening tricks & tips etc?

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+2 There’s a pretty active gardening thread on the MMM forum I think so it could work here too​:+1:

MMM?

3M? :slight_smile:

I’d in particular like a Swiss gardening forum (in English!) given some of the particulars of gardening here (mountain side, soil type, plants) - appreciate if you know of any!